AAOX vs. MUU

Last updated Jun 4, 2026

AAOX (Tradr 2X Long AAOI Daily ETF) and MUU (Direxion Daily MU Bull 2X Shares) are both Leveraged Equities funds. AAOX is passively managed, while MUU is actively managed. At a 0.31 correlation, their price movements are largely independent. AAOX charges 1.49%/yr vs 1.06%/yr for MUU.

Performance

AAOX vs. MUU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Tradr 2X Long AAOI Daily ETF (AAOX) and Direxion Daily MU Bull 2X Shares (MUU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

AAOX

• 1D: -18.15%
• 1M: -7.11%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

MUU

• 1D: 3.08%
• 1M: 218.90%
• YTD: 961.23%
• 6M: 1,422.01%
• 1Y: 6,522.95%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

AAOX vs. MUU - Yearly Performance Comparison

	2026 (YTD)
AAOX Tradr 2X Long AAOI Daily ETF	68.69%
MUU Direxion Daily MU Bull 2X Shares	529.88%

Correlation

The correlation between AAOX and MUU is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Mar 25, 2026	0.31

Return for Risk

AAOX vs. MUU — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

MUU

MUU Risk / Return Rank: 99
MUU Sharpe Ratio Rank: 100
MUU Sortino Ratio Rank: 98
MUU Omega Ratio Rank: 97
MUU Calmar Ratio Rank: 100
MUU Martin Ratio Rank: 100

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AAOX vs. MUU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tradr 2X Long AAOI Daily ETF (AAOX) and Direxion Daily MU Bull 2X Shares (MUU). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	AAOX	MUU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	50.40	—
Sharpe Ratio (All Time) Calculated using the full available price history	4.72	6.68	-1.96

Drawdowns

AAOX vs. MUU - Drawdown Comparison

The maximum AAOX drawdown since its inception was -52.25%, smaller than the maximum MUU drawdown of -75.07%. Use the drawdown chart below to compare losses from any high point for AAOX and MUU.

Drawdown Indicators

	AAOX	MUU	Difference
Max Drawdown Largest peak-to-trough decline	-52.25%	-75.07%	+22.82%
Max Drawdown (1Y) Largest decline over 1 year	—	-52.72%	—
Current Drawdown Current decline from peak	-38.59%	0.00%	-38.59%
Average Drawdown Average peak-to-trough decline	-21.29%	-23.44%	+2.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	15.51%	—

Volatility

Volatility by Period

	AAOX	MUU	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	54.78%	—
Volatility (6M) Calculated over the trailing 6-month period	—	105.07%	—
Volatility (1Y) Calculated over the trailing 1-year period	293.60%	131.77%	+161.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	293.60%	133.67%	+159.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	293.60%	133.67%	+159.93%

AAOX vs. MUU - Expense Ratio Comparison

AAOX has a 1.49% expense ratio, which is higher than MUU's 1.06% expense ratio.

Dividends

AAOX vs. MUU - Dividend Comparison

AAOX has not paid dividends to shareholders, while MUU's dividend yield for the trailing twelve months is around 0.46%.

Position	TTM	2025	2024
AAOX Tradr 2X Long AAOI Daily ETF	0.00%	0.00%	0.00%
MUU Direxion Daily MU Bull 2X Shares	0.46%	4.27%	0.31%

Frequently Asked Questions

Can I hold both AAOX and MUU in my portfolio?

AAOX and MUU have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, AAOX or MUU?

On fees, MUU is cheaper at 1.06% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, AAOX or MUU?

MUU is cheaper with a 1.06% expense ratio, compared with 1.49% for AAOX.

Which ETF pays a higher dividend yield, AAOX or MUU?

MUU has the higher dividend yield at 0.46%, compared with 0.00% for AAOX.

What is the main difference between AAOX and MUU?

They also come from different issuers: Tradr and Direxion. Their fees differ too: 1.49% for AAOX and 1.06% for MUU.